Singapore’s key exports rise 24.2% due to strong AI demand but miss forecasts

Singapore's non-oil domestic exports (NODX) rose 24.2% in July, extending June's 20.8% rise, driven by a 112% surge in electronic exports due to AI-related demand, but missed the 26.5% forecast from a Bloomberg poll. Disk media products led with a 339.1% increase, while non-electronic NODX fell 2.3% with pharmaceuticals down 56.7%, according to Enterprise Singapore.

Singapore’s key exports rise 24.2% due to strong AI demand but miss forecasts Electronic NODX grew 112 per cent SINGAPORE Singapore’s non-oil domestic exports NODX rose 24.2 per cent in July, extending the 20.8 per cent rise in June , https://www.straitstimes.com/business/spores-key-exports-rise-20-7-in-june-miss-forecasts-despite-strong-ai-demand?ref=inline-article as electronics shipments continued to surge due to AI-related demand. It fell short of economists’ forecast of 26.5 per cent in a Bloomberg poll. Electronic NODX grew 112 per cent, according to figures released by Enterprise Singapore on Aug 17, with disk media products seeing the largest increase at 339.1 per cent. PCs expanded 120.8 per cent while integrated circuits grew 84.5 per cent. Meanwhile, non-electronic NODX dipped 2.3 per cent, with pharmaceuticals leading the contraction at 56.7 per cent. Petrochemicals and food preparations fell 22.5 per cent and 17.9 per cent respectively. US, China and Taiwan led expansions for NODX to the top 10 markets, while NODX to the European Union contracted. THE STRAITS TIMES https://www.straitstimes.com/business/economy/singapores-key-exports-rise-24-2-due-to-strong-ai-demand-but-miss-forecasts Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free. Share with us your feedback on BT's products and services TRENDING NOW /pulse?ref=trending-now Financial planners urge investors to consider other options as T-bills yields lose steam Singapore may be expected to tighten measures after US ‘transshipment scam’ report: economists How BYD disrupted Singapore’s car market – and why the strategy is turning on itself UOB’s digital wealth sales, transactions jump almost 50% as clients invest more online